Stock picks of the day

The market has remained a bit volatile, has moved both ways and has finally ended the day in negative territory. Banks, Capital Goods, FMCG, Metals, Oil, Consumer Durables, Healthcare, Auto, and PSU's have ended negative in varying degrees while only the IT sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 12353.49 | Support - 12308, 12231 | Resistance - 12461, 12546

Trading Range - The Sensex opened at 12446.72, moved up to an intra-day high of 12514.18, declined to an intra-day low of 12301.51 and closed at 12353.49.

Review/Outlook - The Sensex has moved both ways but has faced some significant selling pressure at the 12400+ level and has come off its intra-day highs after a rather good opening to give a downward key reversal on clearly higher volume to just about end in negative territory. The extreme near term picture has obviously turned a bit weak indicating a negative bias but an intra-day downside could come in below the 12341 level while good intra-day support comes in at the 12301 level while it would be better to wait for a clearer picture to emerge.                  

GMR Ind. (Daily)

Last Close - 214.75 | Support - 192, 166 | Resistance - 216, 257

Trading Range - The scrip opened at 205.00, moved up to an intra-day high of 214.75, declined to an intra-day low of 202.80 and closed at 214.75.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Bom. Burmah. (Daily)

Last Close - 394.00 | Support - 386, 315 | Resistance - 437, 492

Trading Range - The scrip opened at 369.00, moved up to an intra-day high of 394.00, declined to an intra-day low of 369.00 and closed at 394.00.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Lumax Ind. (Daily)

Last Close - 282.80 | Support - 255, 214 | Resistance - 300, 350

Trading Range - The scrip opened at 262.00, moved up to an intra-day high of 282.80, declined to an intra-day low of 262.00 and closed at 282.80.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Pearl Global. (Daily)

Last Close - 137.45 | Support - 131, 115 | Resistance - 144, 176

Trading Range - The scrip opened at 126.10, moved up to an intra-day high of 137.45, declined to an intra-day low of 126.10 and closed at 137.45.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Daily Stock Track

               

Scrip	Support	Last Close	Resistance	Trend
ACC	924, 892	970.80	979, 1022	Sd
DR. REDDY	700, 671	704.15	733, 757	Os
HLL	224, 216	235.15	240, 252	Os
INFOSYS	1900, 1800	1981.35	2000, 2100	Tu
ITC	180, 168	185.70	190, 210	Tu
RIL	1139, 1109	1143.20	1171, 1195	Up
SATYAM	405, 385	414.95	415, 430	Td
SBI	1000, 950	1004.90	1050, 1100	Sd
T MOTORS	849, 811	880.90	888, 944	Tu
TISCO	500, 480	506.80	530, 550	Td

 

GLOSSARY : CMP - Current Market Price, MACD - Moving Average Convergence Divergence, RMI - Relative Momentum Index, RSI -  Relative Strength Index, ROC - Rate of Change, EMA - Exponential Moving Average, Cls - Closing Price, Support - Level where buying can be expected, Resistance - Level where selling can be expected, Tu - Turning Upwards, Td - Turning Downwards, Sd - Sideways, Up - Uptrend, Dt - Downtrend, Ob - Overbought, Os - Oversold.